Excess cash flow will pay timely interest and protect against realized losses in the rated certificates before being paid out to the class X notes.

The deal has a step-up coupon feature that calls for the fixed rates on classes A1, A2 and A3 to increase by 100 basis points, subject to the net weighted average coupon (WAC) after four years.

A vast majority of the collateral pool balance, 82.6%, are mortgages used to purchase primary residences, and just 17.4% finance second homes.

Wall Street banks are expected to capitalize on ultra-low credit spreads and strong demand from investors after they report quarterly results.

Banks and Congressmen alike see U.S. regulators' version of Basel III as overly stringent for the securitization market.

The coupons on the class A notes steps up after four years by 100 basis points, but the coupons are subject to a net weighted average coupon (WAC) cap.

The high court sent the case back to the New York-based 2nd U.S. Circuit Court of Appeals to revisit whether the dispute can continue as a class action lawsuit.

The conduit transaction will carry a $120 million portion of a $750 million debt financing package for Facebook's newly built Oculus R&D center near San Francisco.

Three announced deals from Woodward Capital, Redwood Trust and Wells Fargo are set to price before the end of the month; additional transactions are expected soon from Morgan Stanley and Goldman Sachs.

Goldman Sachs and Morgan Stanley are backing the first commercial mortgage-backed securities activity in two months, through two deals that exclude hotel or department store retail assets that are most exposed to pandemic-related stresses.

A rally in Treasuries that's driven 10-year yields toward record lows could have more room to run, a Goldman Sachs report said.

U.S. developers are moving into the U.K.'s rapidly expanding market for rental housing, including student dorms and senior-living facilities.

A New York-based real estate investment firm is financing its acquisition of a portfolio of nationally branded hotels via the commercial mortgage securitization market.

Goldman Sachs is sponsoring a $1.33 billion bond offering backed by commercial mortgages, in the first rated conduit deal of the year.

A Silicon Valley mega-office-tower complex that is home to both Amazon and Facebook corporate offices is making another appearance in a conduit commercial mortgage-loan securitization.

The collaborative workspace officer provider, which filed for its IPO last week, will be securitizing a $240 million loan used in the purchase of the San Francisco building where it leases space to member clients.

The U.S. government bond market sounded alarms Wednesday as investors fleeing riskier assets drove the 30-year bond's yield to a record low and the 10-year yield fell below the two-year for the first time since 2007.

With nearly $90 million added in the past two months, Goldman Sachs marched closer to its $1.8 billion consumer-relief mortgage settlement with the U.S. Department of Justice.

At $230 million, GSMBST 2019-PJ1 is notably smaller than recent transactions from JPMorgan and Redwood Trust; borrowers also have less equity in their homes.